The Mortgage Free in Three - Take 3 challenge (MFiT-T3)

trix-a-belle

Skaps, chart 7 won't be released until after the 12th of the month as everyone else needs to update too.

As SuffolkLass says FB hasn't missed an update & has had a lot on, I think I've got my head around how the sheet works too.

brizzledfw

So.. hi folks!

Have just updated and it will be red, red, red.. £190k owing:( but...as GG said, watch this space. We have made some life changes this year, both in terms of purchases but also work/life balance changes..so its all for the right long term reasons. So its full speed ahead on paying down the mortgage now, but has to be tempered at times by learning to deal with a fluctuating, potentially smaller income..

Hope everyone is well

spidystrider

I haven't paid any extra since the last update, but should have a fair amount off for the next update. I'm sitting at £36,085 and have just updated. I hope everyone else is doing well and are pleased with their progress

teapot2

Have updated via Google. We've been MF since 14th July :j. Still sinking in but its a fab feeling. OH leaving work this week so new goal is to continue saving. Good luck all and thanks to FB, Teapot

diadeb

Well done and congratulations teapot.

I've been missing for a year...not sure where I've been but anyway I've been plodding on with the challenge just not keeping a proper chart or updating here. We have now paid £38391 off the original aim of reducing our mortgage by £50k, having already completed MFiT-T2 and reducing it by £66k. Still a large chunk to pay down, but some of it funds my business and so I will be keeping that longer term as the interest is offset-able for tax. (edited as I got the figure wrong - we've paid off more so my update is wrong but never mind!)

We continue to reduce our mortgage with a mixture of overpayments and offset savings. The offset savings mean we've been in a position to help MIL financially towards the renovations of her new flat before selling the family home. Nice feeling.

We appear to be smashing the target I set - clearly should have aimed higher, but we're happy anyway. A bond has matured, more sits in a savings account, so now we're playing the waiting game as to the right time to pay off a chunk or two. Whilst interest rates remain low we're still ahead by saving rather than overpaying. Time will tell when rates are going to move again, but I cannot believe we're nearly two years into the challenge. Hope you're all doing ok too.

SusanneCape

Dipped under the 100,000 mark since the last update. :j

Balance now £96,627.76. Verrrryyyyyy happy! :D:D:D

Have sent my update. Thanks, FB.

slowlyfading

I've sent my update in too hope we'll still be green!

moneysaymoneydo

Is it today the figures are to be updated?

Suffolk_lass

moneysaymoneydo wrote: »

Is it today the figures are to be updated?

I believe it is today.

SL

SuperSecretSquirrel

Hello all!

#47 outstanding balance on 12/09/14 is £52,213.66

Slow progress having paid off the full 10% OP allowance earlier in the year. ERCs mean OPing any more this year would cost more than it would save

Slightly embarrassed to admit that I'm looking forward to January so we can start OPing again!